not sure if you could call it "cream of the crop". That expression is kinda fuzzy nowadays.
I presume they have done their tests already (and will report their findings), so lets devise a formula for determining the 80 that get accepted;
If 500 apply and 400 are boys, 50 know people, 100 of them are attractive, 200 of them are geeks beyond comparison, 350 of them have the dreamer's disease, 150 of them were forced into it by there parents and 50 of them are both smart and attractive. Then if you are right and the 80 that are chosen are in fact the "cream of the crop" then how would you workout that Venn diagram?
(I may have left out some sets for ex. people living on campus, on student loan, people for foreign countries, etc)